Infinitesimal chance to leave Greys, BUT if those
Post# of 36729
Posted On: 06/18/2014 9:39:31 PM
Re: GVInvestments #35360
Infinitesimal chance to leave Greys, BUT if those SK product licenses have any significant value, something may eventually be done with them through asset purchase or something along those lines.
One of not a few flies in this soup is that IEquity Corp preferred shares convert to 60% of O/S. Before that conversion would occur, IEquity would exercise its $1 million in convertible debentures for common shares. Using SK precedential 0.0003 as conversion price adds an additional 3.4 billion shares to O/S. (1Mil / .0003). O/S is ~1B before suspension. (Max 1.25 billion).
1B + 3.4B = 4.4B O/S (post debt conversion)
160% of 4.4B = 7.04B (post IEquity pref'd converson)
Call it 7B O/S.
Compared to O/S 1B, an O/S of 7B diminishes existing shareholders equity by 86%. This does not take into account other convertible debentures that may be outstanding. IEquity Corp cabal cuts a mighty thin slice of the pie for ordinary shareholders, even assuming that a lot of other things that could go wrong don't go wrong.
One of not a few flies in this soup is that IEquity Corp preferred shares convert to 60% of O/S. Before that conversion would occur, IEquity would exercise its $1 million in convertible debentures for common shares. Using SK precedential 0.0003 as conversion price adds an additional 3.4 billion shares to O/S. (1Mil / .0003). O/S is ~1B before suspension. (Max 1.25 billion).
1B + 3.4B = 4.4B O/S (post debt conversion)
160% of 4.4B = 7.04B (post IEquity pref'd converson)
Call it 7B O/S.
Compared to O/S 1B, an O/S of 7B diminishes existing shareholders equity by 86%. This does not take into account other convertible debentures that may be outstanding. IEquity Corp cabal cuts a mighty thin slice of the pie for ordinary shareholders, even assuming that a lot of other things that could go wrong don't go wrong.
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